Power Equipment Boom May Last Until 2035 as AI and Reshoring Lift Demand

South Korea’s leading power equipment companies said on May 13, 2026, at Korea Investment Week 2026 at Seoul’s Shilla Hotel that the global power equipment boom could continue until 2035. They pointed to fast-rising electricity demand from AI data centers, smart factories, EV charging infrastructure and reshoring. HD Hyundai Electric is expanding output after completing an expansion at its Ulsan plant and is also enlarging its Alabama plant in the United States. LS Electric said the market’s center is shifting from transmission to distribution. It set targets of 10 trillion won in sales by 2030 and an operating margin in the mid-teens, while planning to raise the U.S. share of its business above 30%. Source: hankyung.com(https://www.hankyung.com/article/2026051346041)